RE:RE:API reportEIA reports -13.8M barrels......... less total petroleum stocks this week.
Production is down 1.1M barrels per day and the inventory dropped less
than last week. Same net imports. My guess is they have underestimated
the drop in inventory.....again. Still we are only a week away from dropping
under the 5year moving average. Another month of this and the market will
be starting to panic. OPEC will respond by supplying more but it won't be
enough.